Inheritance Tax |
| |
04-05 |
03-04 |
| Nil-rate band |
£263,000 |
£255,000 |
| Rate of tax on excess |
40% |
40% |
| Lifetime transfers to and from
certain trusts |
20% |
20% |
| Overseas domiciled spouse
exemption |
£55,000 |
£55,000 |
- Relief for businesses, unlisted
and AIM companies,
and certain let farmland
|
100% |
100% |
- Relief for certain other business
assets
|
50% |
50% |
|
| Reduced tax charge on gifts within 7 years of
death |
| Years before
death: |
0-3 |
3-4 |
4-5 |
5-6 |
6-7 |
| % of death tax
charge: |
100 |
80 |
60 |
40 |
20 |
| Annual
exempt gifts: |
£3,000 per donor,
£250 per donee |
|
| © Copyright March 2004 subject to the Finance Act 2004
|
|
+ Basic State Pension
+ Capital
Gains Tax
+ Car Benefit
+
Car Fuel
+ Child Trust Fund
+ Corporation Tax
+ Employee Share
Schemes
+ Income Tax Rates
+ ISAs
+ Inheritance Tax
+ Main Capital Allowances
+
Main Tax Due Dates
+ Main Income Tax
Reliefs
+ National Insurance
+ Personal Pensions
+ Stamp
Duty
+ Tax Free Mileage
+ Value Added Tax
+
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